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The Nth Degree

Little Loco Company - Class 22

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cash is a current asset and nothing to do with capital and reserves.

 

i don’t think there’s any point analysing the accounts personally.

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Companies House cannot be relied on for the overall health and gearing of a company on its own or in isolation. Verified and ratified, Shareholders Reports, Annual Reports, Financial Reports all have to be taken into account, as well as current bank statements etc. Also audits have their place.

Edited by CME and Bottlewasher
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5 hours ago, Hal Nail said:

 

i don’t think there’s any point analysing the accounts personally

 

Totally agree. Ultimately we know the situation: Steve is looking for a buyer for the company; this process is going to take time and, until there is some news for LLCo to share, there is not much we can say. All chatter and discussion is really purely speculation. Let's hope for some positive news in due course, things may be going on behind the scenes as we speak, or then again they may not, but patience is the key. 

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I believe that concerned people, who are unsure, who've perhaps invested £1000s are, thinking out aloud, looking for reassurance and perhaps - no pun intended - letting off steam.

 

Being realistic and positive is probably the best way to go. If the company is a viable going concern then it'll be snapped up.

 

But time will tell.

Edited by CME and Bottlewasher
additional info/typos
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On 06/06/2019 at 20:25, Captain Kernow said:

Oh, hurray, that'll really sort it all out.

 

Well said, Phil.

 

I'm still not worried about the money I paid in. Steve's health is far more important.

 

Well, thank you Captain Kernow, for your very constructive comment!

 

Perhaps £1000 for you is an insignificant amount and I do envy you that you are so very wealthy

 

It must be a very nice position to be in............just to sit and pass comment!

 

However, for most of us. its a significant sum of money that has been taken by this fellow  without being able to deliver on his commitments.

 

This is obviously fine for you, but for most of us, it isn't.

 

.............I would appreciate less of the sarcastic comments, if that's okay with you, because nothing that you have said so far will, and I quote you: "sort it all out!"

 

 

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56 minutes ago, Clarky1000 said:

Well, thank you Captain Kernow, for your very constructive comment!

 

Perhaps £1000 for you is an insignificant amount and I do envy you that you are so very wealthy

 

It must be a very nice position to be in............just to sit and pass comment!

 

However, for most of us. its a significant sum of money that has been taken by this fellow  without being able to deliver on his commitments.

 

This is obviously fine for you, but for most of us, it isn't.

 

.............I would appreciate less of the sarcastic comments, if that's okay with you, because nothing that you have said so far will, and I quote you: "sort it all out!"

 

 

I think you should be able to tell that CK was being sarcastic!

Far be it for me to speak on CK's behalf but I suspect that he was suggesting that your "gloves are off" comment is not going to help Steve in any way whatsoever. Surely you would far prefer that Steve's health improves sufficiently that he can either make a decent sale ensuring that your model/s get built OR EVEN return to making them himself (probably rather unlikely).

I appreciate that you have committed a very substantial sum indeed and I do appreciate you feeling angry, frustrated, betrayed at the prospect of losing this but look at it this way.

Steve has already stated what his state of mind and health is (very poor). If you go threating or even taking action against him now, you are only ensuring that you will never see your money again or the model that was promised.

I was also very, very keen on seeing this model, I regarded it as something that was going to be a world leader in high tech model railways of a beloved prototype and I was prepared to sell a LOT of my current stuff to see it happen.

I hadn't gotten around to this before hearing the disappointing news, I know that my situation is as nothing compared to having already put down such sums as you BUT the money you have put down has probably largely been spent on product development?

Is it not better to wait and see what happens, a buyer found or whatever BEFORE resorting presumably to legal action?

It may be wishful thinking here but if a suitable buyer is found and commitments passed on, your money may yet have proved invaluable in the models' development AND you may yet receive such models, albeit from another party.

All the very best,

John.

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Thanks for your reply  John

 

I do appreciate  and accept your view............... to a point!

 

However, I din't think CK is being sarcastic, just naive and a little bit too clever for my liking!

 

LLC is a business, not a charity and as such, it should stand behind what it says on its brief (the basis on which we ordered - and I was not part of the crowd funding), which it clearly is not doing

 

This is the real world!!

 

Further, if the illusive Steve was at least talking to everyone, my view would be different............but he has gone to ground!

 

............and please (before anyone does) don't tell me AGAIN that he is ill!

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To date I've refrained from comment, but your last statement ( ...........and please (before anyone does) don't tell me AGAIN that he is ill!)i incensed me.

 

Let's just hope Steve recovers from his illness, or perhaps, Clarky1000, you may regret saying that?

 

 

Edited by leopardml2341
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Please feel absolutely free to be incensed,,,,,,,,,,that is of course your prerogative !

 

I feel incensed too ...that I'm owed £1000 by LLC and that no one has heard anything from Steve at all!!!

 

I absolutely, without reservation, hope that Steve recovers from his illness..............and I could also be incensed by your suggestion (which I assume was not meant) that I should feel anything other than that - and so no, I won't regret saying what I said!!

 

I was referring to his business and not his health

 

The fact remains that Steve has a lot of our money and is (apparently) ignoring us all.

 

I would have thought that by your "INDUSTRY AND HONOUR' motto, you would understand that Andy??

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Hmmmmm!

 

I fail to see how 

"..........and please (before anyone does) don't tell me AGAIN that he is ill!"

 

Can be referring to anything other than personal, rather than business, health.

 

I'll leave it there.

Edited by leopardml2341
Edit needed due to inadvertently catching post button in touchpad before message composed in full.

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........................................"Can be referring to anything other than personal, rather than business, health"

 

I think that I made my point clear my friend!

 

Steve or someone else from LLC needs to talk to us.........and now!!!

 

Surely that isn't at all unreasonable??

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53 minutes ago, Clarky1000 said:

........................................"Can be referring to anything other than personal, rather than business, health"

 

I think that I made my point clear my friend!

 

Steve or someone else from LLC needs to talk to us.........and now!!!

 

Surely that isn't at all unreasonable??

 

My understanding is that LLC is Steve, and Steve alone, so given that who "else" from LLC are you expecting?

 

Our hobby has a lot of small, one person, businesses that all have the same risk - a serious health issue can result in the inability to communicate to the customers if the illness or other issues surrounding it prevent it.

 

No ranting on here or elsewhere (and I note that with a mere 14 posts this appears to be an account created simply for this ranting) will change those realities.

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1 hour ago, mdvle said:

Our hobby has a lot of small, one person, businesses that all have the same risk - a serious health issue can result in the inability to communicate to the customers if the illness or other issues surrounding it prevent it.

 

Definitely. Prior to the current circumstances Steve was excellent at sharing information on his projects and responding to correspondence. I have had lengthy exchanges with him over the last few years with regard to the Ruston 48ds and have always found him so helpful. We do not know, and indeed do not need to know, about the personal problems that Steve is experiencing but, I am not embarrassed to say that as someone who has suffered from severe mental health issues in recent times, such an illness can have completely debilitating impacts on every aspect of our lives. Nobody wants to be in such a situation. To reiterate though, we don't know what the nature of the health problem is but just hope for a recovery. 

 

Let's keep our fingers crossed for a positive outcome for Steve, LLCo and all potential customers. However, in the meantime, I really strongly feel that sensitivity is needed, not veiled threats on a public forum; it's really not the right place, no matter how frustrated and concerned folk are. 

 

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10 hours ago, Clarky1000 said:

Please feel absolutely free to be incensed,,,,,,,,,,that is of course your prerogative !

 

And you are clearly happy to make statements that incense other folk.

 

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come on, CK, say what you really think :cray_mini:

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Je suis Captain Kernow

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9 hours ago, mdvle said:

and I note that with a mere 14 posts this appears to be an account created simply for this ranting) 

 

12 minutes ago, Captain Kernow said:

mdvle has rightly pointed to your very recent appearance on this forum and the fact that you are essentially using this otherwise overwhelmingly friendly place to indulge in unnecessarily aggressive, confrontational and litigious ranting.

 

At the risk of splitting hairs, the account is two years old, so it's not solely for the purpose of aggressive trolling, but with a marked recent uptick in negative activity.

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12 minutes ago, truffy said:

 

 

At the risk of splitting hairs, the account is two years old, so it's not solely for the purpose of aggressive trolling, but with a marked recent uptick in negative activity.

Indeed, two years of not contributing, then an insistent use of the forum for entirely selfish reasons. As has been said, if you have £1k in one hit to spend on our hobby, where most of what we spend is sunk money, then presumably the kids are not short of shoes and there is food in the larder. I hope that at the end of the day everyone gets their model or their money back, but the health of the cottage industrialist ought to be top of anyone's priorities right now. 

 

EDIT Phil has put this eloquently on behalf of the forum.

Edited by Oldddudders
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As someone running a one-person business, I am acutely aware of how quickly things can go belly up if there is any prolonged period of illness (of whatever kind).

 

I don't know the full details in this case but Steve has taken the brave decision that, because of his health, he needs to let the business go to someone else.

 

From what I do know, I think that the LLC business could be saved - although it won't be easy. I was in contact with Steve last month but it has gone quiet since then so I suspect that his health has taken a turn for the worse.

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2 hours ago, scottystitch said:

I have no skin in this game at all. However, as someone who suffers from serious mental and emotional health issues/problems/whatever you want to call them, some of the comments in this thread are nothing short of appalling and show a real lack of understanding of the issues that face people in this kind of strife.

 

In it's most severe form, adverse mental and emotional health leads to a situation where the individual is unable to function, beyond basic human functions, eg eat (sometimes), sleep, toilet, etc. Beyond that there can be a real and genuine inability to communicate or take part in the world. Over the last three years, I have lost over 7 months of time where I have no memory of even being alive, let alone how I spent my time, albeit some of this was due to medication to overcome the most severe panic and anxiety attacks.

 

None of us know where this individuals head is, nor where it is going. One can only hope events do not lead to the worst case scenario.

 

"stepping up" [a bit too close to the phrase "man up" for my liking], "appointing a lawyer/representative" may be easy to say, but when all you're concerned with is making it through another waking period and hoping that you don't wake up from the next sleeping period, or, if you do, that the pain will at least be diminished, it is absolutely impossible.

 

If it were I with my £1000 on the line, I'd rather loose that than contribute to another individuals suffering or loss.

 

Best


Scott

 

 

Hi Scott,

 

Why, may I ask, have you chosen to misquote me (when it is others that are voicing opinions strongly) and use one phrase, I used, once in isolation?  Especially when I have shown sympathy and empathy, plus reasoned comments.

 

Have you thought to ask of my circumstances, my understanding of business, (SME, Blue Chip, Public Sector), health issues and the management thereof whilst running a business? No you haven't no one here has. I have, sadly, had/have experience of all of those things. When, I suspect, apart from the one or two that have mentioned such, no one else has.

 

'Likes', 'Agrees', etc don't tell the full story. Only a select few know the full story.

 

Then there is the silent majority, those who follow a thread but don't comment, or those not on RMW or MySpacebook et al. They're left hanging, concerned and uninformed, no emails, no letters, no telephone calls from LLC.

 

Steve's family and he are not helping themselves. My concern is for everyone here. This affects our beloved hobby, peoples lives and peoples livelihoods and hard won cash.

 

Without wishing to pry, does anyone know of the nature of Steve's illness, the possible timescales for his recovery? And thus how long it will be (a guestimate) until investors have some news.

 

There is one thing that stands true, in précis and not verbatim, Steve stated that funds were not refundable after each stage of manufacture had been committed too. Apart from some ill advised quips on his part, about taking the money, and IIRC, going on holiday/doing a moonlight flit with it, that was all fairly clear. I guess what some would like to know is, what has happened to the funds that are awaiting commitment to the next stage of the process? Perhaps a written statement of such could be sent to investors clarifying such?

 

ATVB to all,

 

CME.

 

 

Edited by CME and Bottlewasher
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7 minutes ago, CME and Bottlewasher said:

Hi Scott,

 

Why, may I ask, have you chosen to misquote me (when it is others that are voicing opinions strongly) and use one phrase, I used, once in isolation?  Especially when I have shown sympathy and empathy, plus reasoned comments.

 

Have you thought to ask of my circumstances, my understanding of business, (SME, Blue Chip, Public Sector), health issues and the management thereof whilst running a business? No you haven't no one here has. I have, sadly, had/have experience of all of those things. When, I suspect, apart from the one or two that have mentioned such, no one else has.

 

'Likes', 'Agrees', etc don't tell the full story. Only a select few know the full story.

 

Then there is the silent majority, those who follow a thread but don't comment, or those not on RMW or MySpacebook et al. They're left hanging, concerned and uninformed, no emails, no letters, no telephone calls from LLC.

 

Steve's family and he are not helping themselves. My concern is for everyone here. This affects our beloved hobby, peoples lives and peoples livelihoods and hard won cash.

 

Without wishing to pry, does anyone know of the nature of Steve's illness, the possible timescales for his recovery? And thus how long it will be (a guestimate) until investors have some news.

 

There is one thing that stands true, in précis and not verbatim, Steve stated that funds were not refundable after each stage of manufacture had been committed too. Apart from some ill advised quips on his part, about taking the money, and IIRC, going on holiday/doing a moonlight flit with it, that was all fairly clear. I guess what some would like to know is, what has happened to the funds that are awaiting commitment to the next stage of the process? Perhaps a written statement of such could be sent to investors clarifying such?

 

ATVB to all,

 

CME.

 

 

CME,

 

If I have misquoted you then it is inadvertent. If you could advise which part of my post does so, and I can amend accordingly.

 

Best

 

Scott. 

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